Fitch Upgrades Whole Auto Loan Trust 2004-1.NEW YORK -- Fitch Ratings upgrades three classes and affirms one class of Whole Auto Loan Trust 2004-1. The rating actions are as follows: Whole Auto Loan Trust 2004-1 --Class A notes affirmed at 'AAA'; --Class B notes upgraded to 'AAA' from 'AA'; --Class C notes upgraded to 'AA' from 'A+'; --Class D notes upgraded to 'A+' from 'BBB'. The rating actions are a result of increased available credit enhancement in excess of stressed remaining losses. Current principal allocation and expected future cash flows Expected future cash flows Projected future cash flows associated with an asset. are also contributing factors. The collateral continues to perform within Fitch's base case expectations. Currently, under the credit enhancement structure, the securities can withstand stress scenarios consistent with the rating categories and still make full payments of interest and principal in accordance with the terms of the documents. As before, the ratings reflect the quality of DaimlerChrysler Services North America LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (DCS), Ford Motor Credit Company Ford Motor Credit Company is the financial services arm of Ford Motor Company, and is headquartered in Dearborn, Michigan. Its business activities are concentrated primarily in the area of automobile loans in support of its parent company. (Ford Credit), and General Motors Acceptance Corporation (GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance ) retail auto loan originations, the sound financial and legal structure of the transaction, and the strength of servicing provided by DCS, Ford, and GMAC. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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